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Deutsche Bank hires Grenfell from Macquarie as head of commodities for Asia

Deutsche Bank has appointed Simon Grenfell, previously an executive director and global co-head of the commodity markets division at Macquarie Bank in London, as a managing director and head of commodities for Asia based in Singapore.

Working within the global credit trading product group, Grenfell will report to Sajid Javid, Deutsche's head of global credit trading in Asia ex-Japan as well as to global head of commodities David Silbert. He will be responsible for developing Deutsche's regional commodities platform and expanding the range of products the bank offers its clients in Asia.

'Simon's extensive commodities experience, which spans a range of markets and geographical regions, will be invaluable in directing our Asian commodities platform through its next phase of growth,' Javid says.

Silbert says: 'Asia is an important region for Deutsche Bank's global commodities business, as demand for raw materials and agricultural commodities continues to grow. Simon is well qualified to develop our established business in this key market.'

Grenfell has 15 years' experience working in a range of commodities markets, including metals, energy and soft commodities. At Macquarie Bank he was responsible for the strategic direction and management of the company's global commodities business.

Previously he was an executive director with Goldman Sachs's London-based commodities division J. Aron and a vice-president with Morgan Stanley in Singapore, having begun his career at Macquarie Bank in Sydney.

Deutsche Bank has also promoted Ray Franzi to become the Singapore-based Asia-Pacific head of global finance and foreign exchange structuring. For the past two years he has been a director in Deutsche's global foreign exchange structuring business in London, having joined the bank in June 2005 from Dresdner Kleinwort Wasserstein, also in London, where he was global head of foreign exchange structuring.

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